A new alternative to enjoy your holidays.
A “time-share” concept for luxury yachts is
finding a niche market for owners who
appreciate the possibility of enjoying the sea
without coping with the problems of keeping a
boat. Carlos Béjar, President of LatitudeYachts,
explains the idea behind his company
.
Luxuryoften comeswith aheadache.Having a
yacht involves hiring and supervising a staff and a
crew,worryingaboutmaintenance,berthing–and
sometimes not knowingwhat todowith theboat
most of the year.
Enter Latitude Yachts, a fractional ownership
management company conceived precisely to take
the bothersome side away from what should be
thepleasurable activityof sailing.Coming from the
yacht charter business, Carlos Béjar and his
partners realized tenyears ago that yachts couldbe
“time-shared” much as condominiums. The idea
became a lucrative business.According to different
programs, four-to-eight owners share the initial
priceof a yacht and get a certain amount of time a
year each to enjoy it.Themost popular, according
to Béjar, is the 4-owner program,which gives each
owner eight weeks or 56 days a year on the boat.
Ownersmay choose to lend the yachtwithin their
period to friendsor family,andeven rent itwhen it’s
not being used, using LatitudeYachts as amanager.
“Apart from the initial shared cost of the boat,
peoplewhouseour programs only have topay theirmonthly quotas,”says
Béjar. “And we take care of everything else.”Walk-in, walk-off services
include anything frommaintenanceof the yacht, to thehiring and trainingof
staff and crew,provisioningof food,beverages and linen,and thepreparation
of on-boardmenus by a private chef. A “concierge” service which works
24/7 takes care of any needs clients may have even before sailing, such as
helicopter or limousine rides to themarinas, renting
a car at one of the ports where the boat may call,
medical servicesandnearlyanyothernecessityupon
request. Béjar compares having a yacht likebeingon
a sea-borne 5-star hotel where all employees are
100%atyour service,andbeingable to take thehotel
todiverseand stunning locations.Hepointsout that
different kinds of boats— yachts, sportfishing boats
or sailing catamarans— from some of the world’s
most prestigious builders are made available. They
range from50 to200 feet in size.
Latitude Yachts has offices in the Dominican
Republic, andplans toconcentrateon theCaribbean
for thewinter, but to eventually bring their services
to theMediterranean for the summer.Thoughmost
of Béjar’s high-end clientele is North American, a
strong euro is beginning to bring more European
owners. “We have been established in the US for
ten years, andwe knowAmerican tastes well,” says
Béjar. “But we know the Europeans quitewell too,
sowe can cater tobothmarkets.”
Béjar is proud to contribute to Puerto Rico’s
tourism industry by providing a luxury service
that attracts affluent visitors. “We are part of the
identity of the islandwherewework,”he says.
He adds that fractional ownership of a yacht is
not recommended to people who wish to sail
oneweek a year, inwhich case chartering a yacht
is the best thing to do.Neither is it recommendable for clients who are
happy changing destinations, crews and vessels regularly. The impeccable
service given by Latitude Yachts creates what could be described as
faithfulness. “It’s a beautiful part of our business to see how our clients
comeback year after year,andhow something that starts as aprofessional
relationship ends up becoming a good friendship,”he says
.
Latitude Yachts: carefree luxury
Advertising Feature
Yachts vaery in size between 50 and 200 feet.
Carlos Béjar, President of Latitude Yachts.
The boats aremaintained in impeccable condition all
year round.
